Bank-Ezy White Paper Version 1.0
Ever since Bitcoin was invented by Satoshi, it has been seen as a the promise of liberation of the masses from the enslavement of the banking system. Until now however this promise has not been fulfilled and although cryptocurrencies and its ecosystem has made massive strides to empower the individual, it has struggled lately with scaling issues and raising fees. Furthermore, blockchain is trying to go “mainstream” and lots of companies are “selling” out the dream of individual independence and are becoming co-enslavers in the system. So where is the crypto bank for the masses?
Bank-Ezy plans to change all of this. A real crypto bank for the masses, bringing seamless and private crypto banking to everyone. Borderless, peer-2-peer banking and trading for everyone. Now anyone with a connected device can be his or her own bank.
A Blockchain free from control
For crypto banking to be accessible to everyone it is essential that the blockchain is independent and not controlled by any individual or groups. Bank-Ezy blockchain is thus an independent [ POW ] proof of work blockchain not controlled or regulated by anyone. All the parameters are coded into the blockchain code and it is open source freely available on Git-Hub for anyone to download and use.
You can get the source code here: – https://github.com/bank-ezy-developer/bank-ezy
Because the working of blockchains are well documented and BEZY uses a blockchain similar to that of Litecoin, the full technical details will not be discussed in this document as it would be unnecessary repetition.
The blockchain provides private banking to every individual, although all transactions are recorded on the blockchain, the holders of the keys are anonymous and Bank-Ezy thus brings true private crypto banking to everyone. Now your finances are nobodies business but yours.
The blockchain uses the scrypt mining algorithm which is tried and tested by many coins and a true proof of work algorithm [ example: Litecoin ]
Mining is done by independent blockchain miners who earn block rewards for mining new blocks and thus approving transactions.
This makes the blockchain truly public and independent of any control, unlike many blockchains today that is controlled by companies, groups or individuals.
Block Time and Reward
The Bank-Ezy Blockchain is extremely fast with a new block being mind every 90 seconds.
The block reward is 100 coins and this is earned by the miner who discovers / mines the next block.
The block reward is set to halve every 500 0000 blocks thus reducing the supply and making BEZY a deflationary currency i.e. a currency of which the supply decreases over time and if demand increases this could be a positive factor.
Coin Supply and Pre-Mine
BEZY will have a total supply of 200 Million coins and when the last coin is mined no other coins can be created.
50% of coins or 100 Million coins are pre-mined and will exist from day 1 when the genesis block is mined.
Purpose and distribution of the Pre-mined coins.
As stated above 100 Million coins will be pre-mined and these coins will ALL be used for marketing and distribution to the BEZY community. This will make BEZY a true community project.
Transparency and Distribution
To ensure that BEZY is truly a community project the distribution of the pre-mined coins will be transparent and the wallet addresses will be published so that any person can see the amount distributed and follow the distribution on the blockchain.
Distribution of the 100 Million will be done as follows:
The initial developers do not wish to have control over BEZY as this would fly against the principal of a community bank that is open to everyone and controlled by no-one. As such the initial developers want to pass on the pre-mined coins on to the community as quickly as possible and aim to do so in 90 days or less if possible.
The following methods will be used.
To create a community a number of bounty jobs will be available for people interested in becoming part of the community and organise various aspects of the marketing and distribution.
Bounties will be available for creating social media and communication channels such as.
And it would be up to the community to add more to this list. The initial developers will consider all ideas from community members and reward them accordingly.
Airdrops and giveaways.
To ensure a large, diversified community regular airdrops and giveaways will be held until all the pre-mine coins are distributed.
Once the coins are distributed and in community hands, the initial developers believe that the community will organise itself because of their own vested interest in Bank-Ezy and Bank-Ezy will be a truly decentralized peer-2-peer crypto banking blockchain.